Dynamic Technology Lab Private Ltd Cuts Stake in UMB Financial Corporation $UMBF

Key Points

• Dynamic Technology Lab Private Ltd has significantly reduced its stake in UMB Financial Corporation by 64.8%, now holding only 6,829 shares valued at $690,000.
• UMB Financial recently reported earnings of $2.96 per share, surpassing analysts' expectations, with a substantial 76.7% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.40 per share, with a yield of 1.3%, payable on October 1st.

Dynamic Technology Lab Private Ltd trimmed its holdings in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 64.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,829 shares of the bank's stock after selling 12,571 shares during the period. Dynamic Technology Lab Private Ltd's holdings in UMB Financial were worth $690,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group raised its stake in UMB Financial by 4,840.0% in the 1st quarter. Brooklyn Investment Group now owns 247 shares of the bank's stock valued at $25,000 after acquiring an additional 242 shares during the period. Rothschild Investment LLC raised its stake in UMB Financial by 442.0% in the 1st quarter. Rothschild Investment LLC now owns 271 shares of the bank's stock valued at $27,000 after acquiring an additional 221 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in UMB Financial in the 1st quarter valued at about $27,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in UMB Financial in the 1st quarter valued at about $35,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in UMB Financial by 143.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 362 shares of the bank's stock valued at $37,000 after acquiring an additional 213 shares during the period. 87.78% of the stock is currently owned by institutional investors.

Insider Activity at UMB Financial

In other news, CEO J Mariner Kemper sold 15,523 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $116.33, for a total transaction of $1,805,790.59. Following the completion of the transaction, the chief executive officer owned 1,536,781 shares of the company's stock, valued at approximately $178,773,733.73. The trade was a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Phillip James Mason sold 750 shares of the business's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $120.97, for a total value of $90,727.50. Following the transaction, the insider directly owned 8,815 shares of the company's stock, valued at $1,066,350.55. The trade was a 7.84% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 678 shares of company stock valued at $75,948 and have sold 20,845 shares valued at $2,440,666. Company insiders own 5.45% of the company's stock.

UMB Financial Price Performance

Shares of UMBF traded up $0.49 during midday trading on Monday, hitting $121.09. 37,013 shares of the company traded hands, compared to its average volume of 643,972. The stock has a 50-day moving average of $112.89 and a 200-day moving average of $104.93. UMB Financial Corporation has a one year low of $82.00 and a one year high of $129.94. The firm has a market cap of $9.19 billion, a P/E ratio of 13.92, a PEG ratio of 1.37 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.77 and a quick ratio of 0.77.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The bank reported $2.96 EPS for the quarter, topping the consensus estimate of $2.35 by $0.61. UMB Financial had a return on equity of 12.27% and a net margin of 15.42%.The company had revenue of $689.21 million during the quarter, compared to analyst estimates of $638.25 million. During the same quarter in the previous year, the firm earned $2.16 earnings per share. UMB Financial's revenue was up 76.7% on a year-over-year basis. As a group, sell-side analysts predict that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.3%. UMB Financial's payout ratio is presently 18.39%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on UMBF. Royal Bank Of Canada boosted their price objective on UMB Financial from $115.00 to $122.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Raymond James Financial boosted their price objective on UMB Financial from $135.00 to $138.00 and gave the company a "strong-buy" rating in a research note on Thursday, July 31st. Barclays boosted their price objective on UMB Financial from $140.00 to $150.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Wells Fargo & Company boosted their price objective on UMB Financial from $120.00 to $125.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Finally, Truist Financial upped their price target on UMB Financial from $130.00 to $144.00 and gave the company a "buy" rating in a research report on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $133.89.

About UMB Financial

UMB Financial Corporation operates as the bank holding company that provides banking services and asset servicing in the United States and internationally. The Commercial Banking segment provides commercial loans and credit card; commercial real estate financing; letters of credit; loan syndication, and consultative service; various business solutions including asset-based lending, mezzanine debt, and minority equity investment; and treasury management service, such as depository service, account reconciliation, cash management tool, accounts payable and receivable solution, electronic fund transfer and automated payment, controlled disbursement, lockbox service, and remote deposit capture service.